Section 406 of Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014 govern Nidhi companies. A Nidhi company has been incorporated with the following objectives:
Requirements for Nidhi Company
- Imbibing the habit of thrift and savings amongst its members
- Receiving and lending deposits from/to its members for their mutual benefit, which complies with rules of Chapter XXVI of Companies Rules, 2014.
Required Documents for Nidhi Company Registration
- A Nidhi company that has to be incorporated under this Act shall be a public company;
- It must have a minimum paid up equity share capital of Rs.5,00,000/-;
- There will be no issuances of preference shares. If such shares had already been issued by a Nidhi Company before commencement of this Act, such preference shares are to be redeemed in accordance with the terms of issue of such shares;
- The objective of such a firm would be to imbibe in the members a habit of thrift and saving and the services would only be restricted to its members;
- The name must have Nidhi Limited
Apart from all these documents, Some other required documents will be prepared by your Corporate Professional i.e. CA/CS for submission to ROC
- Copy of PAN of Directors and Shareholders.
- Copy of ID Proof of Directors and Shareholders. (Voter ID, AADHAR, Driving License, Passport)
- Copy of Address Proof of Directors and Shareholders (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
- Passport size Photographs.
- Property Ownership Documents of Registered office premises:
- If property is owned: Electricity bill + Ownership Documents + NOC (if required)
- If property is rented: Electricity bill + Rent Agreement + NOC